The price of Bitcoin has been falling for more than a month now, reaching a current price of about $6,500. Although this is clearly a bear market, there are still some altcoins that have really good potential for growth. Monero has been one of the leading cryptocurrencies for three years now and it seems to be showing no sign of slowing down. Monero is a great altcoin to follow during a bear market, as it has been a reliable performer.
Bitcoin has been down for the past week, and many altcoins are showing signs of accumulation. Litecoin, Monero, and Zcash are all showing signs of accumulation while Bitcoin price is down.The crypto-currency markets saw each other on the 15th. July has seen another day of struggle as the price of bitcoin (BTC) has dropped to the last support zone around $31,000, prompting traders to make gloomy predictions about the future if the bulls fail to hold this level.
Despite the challenges facing the crypto-currency market as a whole, relatively obscure altcoins like Aavegotchi (GHST), Centric Cash (CNS) and Alien Worlds (TLM) have posted positive gains over the past 48 hours and appear to be in stealth accumulation mode.
Aavegochivolume increases ahead of DinoSwaprelease
Aavegotchi (GHST) is a DeFi-oriented non-fungible token (NFT) that runs on the Aave protocol and allows users to use game avatars, called gotchi, as collateral for auction rewards.
GHST/USDT card for four hours. Source: TradingView
Data from Cointelegraph Markets Pro and TradingView shows that the price of GHST rose 21% from a low of $0.997 on the 14th. July to an intraday high of $1.21 on the 15th. The month of July was marked by a doubling of trading volume in 24 hours compared to the previous day.
A look at Aavegochi’s Twitter feed reveals that the new enthusiasm for GHST is a result of the upcoming release of DinoSwap, a multi-chain farm protocol that helps attract and create liquidity on existing automated market makers (AMMs).
Liquidity on the $GHST-WETH pair on @QuickswapDEX is explosive.
Everyone is excited about @DinoSwapHQ’s new mining liquidity program launching tomorrow on @0xPolygon.
Increase your earnings on $GHST, $DINO, FRENS and LP by following this practical guide pic.twitter.com/ee1sN0KTyS
– Aavegotchi (@aavegotchi) 15. July 2021
A new opportunity for token holders to earn additional profits on the Polygon network (MATIC) has contributed to an increase in liquidity and trading volumes, leading to higher GHST prices.
Centric Cash up after migration to Binance Smart Chain
Centric Cash (CNS) is another token that has managed to make positive gains in the red market thanks to a successful run on the Binance Smart Chain (BSC).
The @CentricRise team will be in action on the 15th. July will start a new story when he officially goes to #BSC. #Centric will allow BSC-$CNR/$CNS buyouts at a 1:1 ratio to TRON-CNR/CNS. #CentricCash will be renamed #CentricSwap.https://t.co/sQOX4WpomD#BNB #BinanceSmartChain pic.twitter.com/BwlqSrf62L
– BSCDaily (@bsc_daily) 14. July 2021
CNS is a two token protocol that offers a reward for acceptance in the form of a fixed return per hour and stabilizes over time as it self-regulates the supply of tokens to meet constant changes in demand, according to the project’s website.
The move from the Tron blockchain project to the BSC was made to increase awareness and trading volume by gaining access to the broader Binance ecosystem.
Due to the increased attention and trading volume CNS received following the migration, the price rose 36% from a low of $0.0003 on July 14 to an intra-day high of $0.00042 as traders sought to buy tokens and provide liquidity for the launch on PancakeSwap.
Alien worlds show signs of accumulation
Alien Worlds (TLM) also topped the charts this week. The blockchain-based gaming platform offers a meta-version of NFT connected to DeFi, where users can collect and play with unique digital objects in an environment that encourages economic competition and collaboration among players.
Chart 4 HoursTLM/USDT. Source: TradingView
TLM has risen 307% over the past week, from a low of $0.08 on July 9 to an intraday high of $0.33 on July 15 at a 24-hour trading volume of $884 million.
Likewise: New data explains why the price of bitcoin has been at $30,000 for two months.
While there has been no major announcement from the paper that could easily be identified as the reason for this increased momentum, the project recently tweeted a handful of new NFTs that can be earned in the game, as well as an announcement that the planet Binance will soon be added to the Alien Worlds ecosystem.
We know everyone is excited about Planet Binance’s missions. In the meantime, watch the video…. https://t.co/[email protected] #missions #soon pic.twitter.com/Fv3V1osZqp
– AlienWorlds (@AlienWorlds) 9. July 2021
Overall, projects with NFT functionality and various DeFi protocols continue to do well, while large projects in the cryptocurrency market have been negatively impacted by bitcoin’s repeated surges towards the $31,000 mark.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Cointelegraph.com. Every investment and every transaction involves risk. So do your own research before making a decision.
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